What credit score do major UK banks use?

To maximise your chance of approval for any of the above, you should look at which credit reference agency and credit score your lender/institution uses. Pick a lender/provider that will look at your best score!

Credit Reference Agencies decide your credit score. A credit reference agency (CRA) is an independent organisation that collects and stores financial data about you for the purpose of helping lenders decide whether you should be approved for financial products like credit cards, loans or mortgages. Each CRA has its own numerical scale that they use to assign you a credit score, which signals to lending institutions how financially responsible you are.  CRAs might be referred to as Credit Rating Agencies or Credit Bureaus. 

To see which bank uses which credit score click here.

CRAs typically only keep 6 years’ worth of data at a time. They  hold the following information about you:

Personal information like your name, address and former addresses over the past six years.
How many financial accounts you’ve had in the past six years along with when they were opened.
Certain bill payments including missed or late payments. This can include payments for credit cards, mobile contracts, and much more. 

Whether you are registered on the electoral roll or not.

Tip: Registering for the electoral roll can be a quick way to boost your credit score.

The amount of credit that is currently available to you and how much you currently use – this is called your credit utilisation ratio.

Who you are financially associated with (eg. who you have a joint account with).

If you have had a CCJ, IVA, default or bankruptcy and when each event occurred.

If you want to build your credit score look at more credit builder information here.

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